Addressing intergenerational inequity
The boom in house prices in the UK is no longer news but the data still has the power to shock. In today's money the average house in 1975 cost £83,126; now the average price is almost £190,000. Since 1999, the average price has increased by more than 140%; in London it's a staggering 222%.
These dramatic figures have opened up a divide along generational lines. While baby-boomers and Generation Xers have benefited – the former building lucrative nest eggs – the younger generation, the so-called millennials, are increasingly shut out...